• FreeAdvice has a new Terms of Service and Privacy Policy, effective May 25, 2018.
    By continuing to use this site, you are consenting to our Terms of Service and use of cookies.

who gets what

Accident - Bankruptcy - Criminal Law / DUI - Business - Consumer - Employment - Family - Immigration - Real Estate - Tax - Traffic - Wills   Please click a topic or scroll down for more.

Nebraskafair

New member
What is the name of your state?Nebraska
My girlfriend and I bought a home together and now are selling and moving on in our lives. I put down the down payment of $50k. At this time the re estate agent predicts our net profit after everything will be $50k. Is she entitled to 1/2 of that or because I put down the down payment by law who get's what.
 


adjusterjack

Senior Member
I put down the down payment of $50k.
Then you gave her a gift of $25K if you didn't have a written agreement as to how a subsequent sale of the property would be handled.

Is she entitled to 1/2 of that
She owns a half interest in the property. The escrow company will write a single check to the two of you for the entire amount unless you both sign written instructions to the contrary. If she doesn't agree to you getting the whole $50K then you end up in court and try to convince a judge that it wasn't a gift when you were "in love."

What is she saying about the money? I imagine that she wants her half now that the romance has soured.

Life lesson for anybody else reading this. Don't get financially involved with boyfriends/girlfriends.
 

Nebraskafair

New member
Then you gave her a gift of $25K if you didn't have a written agreement as to how a subsequent sale of the property would be handled.



She owns a half interest in the property. The escrow company will write a single check to the two of you for the entire amount unless you both sign written instructions to the contrary. If she doesn't agree to you getting the whole $50K then you end up in court and try to convince a judge that it wasn't a gift when you were "in love."

What is she saying about the money? I imagine that she wants her half now that the romance has soured.

Life lesson for anybody else reading this. Don't get financially involved with boyfriends/girlfriends.
 

Nebraskafair

New member
Then you gave her a gift of $25K if you didn't have a written agreement as to how a subsequent sale of the property would be handled.



She owns a half interest in the property. The escrow company will write a single check to the two of you for the entire amount unless you both sign written instructions to the contrary. If she doesn't agree to you getting the whole $50K then you end up in court and try to convince a judge that it wasn't a gift when you were "in love."

What is she saying about the money? I imagine that she wants her half now that the romance has soured.

Life lesson for anybody else reading this. Don't get financially involved with boyfriends/girlfriends.
So she get's half.... Dumb me. I'll be ready next time. Thanks for the reply. :(
 

Taxing Matters

Overtaxed Member
So she get's half.... Dumb me. I'll be ready next time. Thanks for the reply. :(
See a lawyer about it before you just give up. That may not be the result here. For the amount at issue it is worth getting at least an initial consultation with a lawyer. adjusterjack's reaction that you gave her a gift is just one possibility, but without knowing all the facts, what evidence you have to prove whatever agreement you had, and Nebraska case law it is not the only possible outcome.
 

Taxing Matters

Overtaxed Member
That's the default if she doesn't agree to something else.
Or the facts indicate some other outcome, as may be the case here. The down payment is one fact in his favor, since there is a compelling argument to be made that he ought to recover his down payment and then what gets split is any profit after that.
 

LdiJ

Senior Member
Or the facts indicate some other outcome, as may be the case here. The down payment is one fact in his favor, since there is a compelling argument to be made that he ought to recover his down payment and then what gets split is any profit after that.
I disagree a little. I agree that a compelling argument could be made that he ought to get his down payment. However, there were upfront costs in buying the home and costs in selling the home. Since their profit after selling costs is 50k, then he should not get the entire 50k. His half of the buying and selling costs should be deducted from his 50k. So, if buying costs were 5k, and selling costs were 8k (example only), then he should get 43.5k and she should get 6.5k
 

Taxing Matters

Overtaxed Member
I disagree a little. I agree that a compelling argument could be made that he ought to get his down payment. However, there were upfront costs in buying the home and costs in selling the home. Since their profit after selling costs is 50k, then he should not get the entire 50k. His half of the buying and selling costs should be deducted from his 50k. So, if buying costs were 5k, and selling costs were 8k (example only), then he should get 43.5k and she should get 6.5k
I don't agree with that unless she paid some of the buying costs. If she put nothing into it then I don't see her getting anything out of it unless there is something left over after all costs of sale are paid and he gets back the $50k he put down.
 

quincy

Senior Member
The down payment on a house is only part of what needs to be considered. For example, there is a lot that goes into maintaining a house. Maintenance and repair costs, as well as day-to-day care of the house and property, also need to be factored in.

I think that adjusterjack’s even split is the most likely outcome, absent any agreement between the couple to the contrary.
 
Last edited:

Taxing Matters

Overtaxed Member
I agree that adjusterjack’s even split is the most likely outcome, absent any agreement between the couple to the contrary.
I agree that's one possibility but without knowing all the facts I do not agree it is the "most likely outcome". That's why the OP needs to see a Nebraska attorney and lay out all the facts involved.
 

quincy

Senior Member
You are free to disagree.

I am curious how long Nebraskafair and ex-girlfriend lived together in their jointly-owned house.
 

Find the Right Lawyer for Your Legal Issue!

Fast, Free, and Confidential
data-ad-format="auto">
Top